ERP Integrator System Using Pre-loaded Templates for Payment File Generation
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Solution Overview
Problem
Current systems for generating payment files are complex and time-consuming, requiring extensive reprogramming of ERP software and significant effort to comply with different bank formats and fields, especially when dealing with multiple beneficiaries and currencies, and often necessitate costly consultancy resources.
Innovation Solution
The use of pre-loaded templates with business rules to generate comprehensively populated payment files in an industry standard format, such as ISO 20022 XML, which can be integrated into existing ERP systems without additional software or hardware requirements, allowing for automated extraction of data from various databases to create standardized payment files.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional ERP software is reprogrammed to comply with different bank formats, then payment file generation can be customized for each bank, but implementation time and cost increase significantly
Solution Approach 1:
The patent applies preliminary action by pre-configuring payment file templates with all necessary bank-specific formats, fields, and validation rules before actual payment processing. These templates are stored in a database and can be selected and applied during payment file generation, eliminating the need for time-consuming reprogramming when new banks or formats are needed.
Solution Approach 2:
The patent implements universality through a single ERP system that can generate payment files for multiple different banks and formats using a unified template-based approach. The system maintains a library of templates for various banks (e.g., Chase, Wells Fargo, Bank of America) and can switch between them dynamically without requiring separate customization processes for each bank.
2Adaptability or versatility
If extensive consultancy resources are engaged to complete software installation, then ERP system integration with banks can be achieved, but implementation costs increase
Solution Approach 1:
The patent applies self-service by enabling the ERP system to automatically generate and validate payment files using pre-configured templates without requiring external consultancy intervention. The system includes built-in validation logic that automatically checks payment files against bank requirements, allowing organizations to independently implement and maintain bank integrations.
Solution Approach 2:
The patent uses payment file templates as an intermediary layer between the ERP system and multiple banks. These templates act as standardized intermediaries that translate internal payment data into bank-specific formats, eliminating the need for direct, complex integrations with each bank and reducing consultancy requirements.
3Reliability
If payment data is extracted and formatted for individual banks, then specific bank requirements are met, but the process becomes tedious and time-consuming
Solution Approach 1:
The patent applies preliminary action by pre-configuring payment file templates with all necessary bank-specific formats, fields, and validation rules before actual payment processing. These templates are stored in a database and can be selected and applied during payment file generation, eliminating the need for time-consuming reprogramming when new banks or formats are needed.
Solution Approach 2:
The patent uses parameter changes by allowing the system to dynamically adjust payment file parameters based on the selected bank template. When a template is applied, the system automatically configures fields, formats, validation rules, and other parameters specific to that bank, enabling rapid compliance without manual reconfiguration.
4Reliability
If three to four months are spent generating a payment instruction file, then comprehensive bank compliance is achieved, but operational efficiency decreases
Solution Approach 1:
The patent applies preliminary action by pre-configuring payment file templates with all necessary bank-specific formats, fields, and validation rules before actual payment processing. These templates are stored in a database and can be selected and applied during payment file generation, eliminating the need for time-consuming reprogramming when new banks or formats are needed.
Solution Approach 2:
The patent implements feedback through automatic validation mechanisms that check generated payment files against bank requirements. The system provides immediate feedback on compliance status and can automatically correct errors, ensuring reliable bank compliance while dramatically reducing the time required compared to manual verification processes.
Data Source
AI summary
The methods and systems described herein attempt to resolve the deficiencies of the conventional systems by using pre-loaded templates and extracting comprehensively populated payment files in an industry standard format for processing. In one embodiment, a computer-implemented method for generating a payment file comprises receiving, by a computer, a request for a payment to a beneficiary; receiving, by a computer, a selection of the beneficiary for payment; receiving, by a computer, a request to pay the beneficiary using a template; retrieving, by a computer, the template from a database, wherein the template has a plurality of business rules for completing a plurality of data fields; extracting, by a computer, information from a database to complete the data fields of the template; and generating, by a computer, a payment file by completing the data fields of the template according to the plurality of business rules.